Taxi Loans Lead to LOMTO Conservatorship

The NCUA has taken control of a New York credit union that lost millions as taxi investments lost value with competition from Uber and other ride-sharing apps. NCUA said on Monday it conserved LOMTO Federal Credit Union in Queens ($256.1 million in assets, 2,910...

PenFed CEO Honored as CU Hero of the Year: ACUC Onsite

PenFed President/CEO James Schenck, right, receives the Credit Union Hero of the Year award from CUNA President/CEO Jim Nussle, left. LAS VEGAS – CUNA President/CEO Jim Nussle honored James Schenck, president/CEO of the $20.2 billion Pentagon Federal Credit...

Credit Unions, WOCCU & Others Welcome New Talent

During the past week, the credit union industry has seen a lot of new people coming into new roles.   WEST  The $3.4 billion Redwood Credit Union based in Santa Rosa, Calif., hired Reid Louie as assistant vice president/regional manager of branch...

It’s Time to Move Digitally: ACUC Onsite

Todd Clark, president/CEO of CO-OP Financial Services, discusses how credit unions can keep up in today’s digital world. LAS VEGAS – Credit unions must retire the phrase “digital strategy.” In a world where apps like Uber and Airbnb are setting...

Crowdfunding Tour Enlisting Credit Union Partners

New York City-based GrowthFountain, an equity crowdfunding platform, is preparing for “The Heartland Tour,” to shine the spotlight on business startups and get credit union partners involved in the process. GrowthFountain plans ten U.S. stops, in...